FIL Ltd Has $5.74 Million Stake in Itron, Inc. (NASDAQ:ITRI)

FIL Ltd boosted its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 457.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,836 shares of the scientific and technical instruments company's stock after buying an additional 43,356 shares during the quarter. FIL Ltd owned approximately 0.12% of Itron worth $5,737,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hager Investment Management Services LLC bought a new stake in Itron during the 4th quarter worth approximately $67,000. Contravisory Investment Management Inc. raised its position in shares of Itron by 154.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock valued at $94,000 after acquiring an additional 525 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after buying an additional 688 shares during the period. GAMMA Investing LLC raised its position in shares of Itron by 15.6% in the 4th quarter. GAMMA Investing LLC now owns 1,177 shares of the scientific and technical instruments company's stock valued at $128,000 after acquiring an additional 159 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Itron by 43.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company's stock worth $198,000 after purchasing an additional 548 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the transaction, the director now owns 5,630 shares of the company's stock, valued at $603,930.10. This trade represents a 11.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Christopher E. Ware sold 648 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,037 shares of company stock worth $385,815. Corporate insiders own 1.45% of the company's stock.

Itron Stock Up 0.7 %

NASDAQ:ITRI traded up $0.70 on Tuesday, hitting $102.08. 490,098 shares of the company's stock were exchanged, compared to its average volume of 568,970. The company has a market cap of $4.65 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. The firm has a 50-day moving average price of $102.28 and a 200-day moving average price of $107.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a 52 week low of $88.87 and a 52 week high of $124.90.

Wall Street Analyst Weigh In

ITRI has been the subject of several recent analyst reports. Oppenheimer increased their price target on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. StockNews.com downgraded shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Piper Sandler upped their price target on shares of Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Guggenheim dropped their price objective on shares of Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price objective on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $127.64.

Itron Profile

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.